Understanding the Relationship Between GamStop Self-Exclusion and Crypto Casinos
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GamStop is a non-profit organisation that is meant to assist gamblers with a problem to overcome their addictive gambling behaviours. It does this through a self-exclusion process that will restrict gamblers registered with the site from gambling across all gambling platforms.
Its affiliation with the UK Gambling Commission sees operators licensed with the regulator enforce self-excluded gamblers through GamStop. With that, also, the UKGC has placed restrictions against the use of credit cards to be used for gambling activities.
The idea behind cryptocurrency is the ability to make transactions within a fluid market anonymously. Therefore, more and more Gamstop users switch to crypto by playing on online sites not regulated by the UKGC. As such, a loophole has been created where those excluded from UKGC operators make use of cryptocurrency casinos. The limitation of cryptocurrency regulations further makes it difficult for gambling regulators to provide clear guidelines regarding cryptocurrency transactions.
Can GamStop Self-Exclude You From Crypto Casinos?
It is recommended to use self-exclusion tools even for crypto traders to prevent any harm, so using responsible gambling tools at crypto casinos is crucial. Operators licensed with the UKGC are automatically included with GamStop. The UK presently needs to exercise more regulatory measures on cryptocurrency transactions. Though more and more of their operators provide cryptocurrency payment options to their clients, the regulator needs to regulate cryptocurrency sites.
Cryptocurrency operates on the premise that all transactions are not only safe and secure but they are also anonymous. Cryptocurrency sites not licensed with UKGC use this as a means to attract gamblers self-excluded on GamStop. Since they are not licensed with the UKGC, following through on responsible gambling violations will be impossible.
UK players continue making crypto deposits at GamSop-free casinos because of a higher level of privacy compared to traditional payment methods. However, players can still self-exclude from any casino without GamStop highlighted by casinogap.org team using tools like Gamban, Betbocker, Gamblock, and more.
The first obvious option is for the gambler not to sign up for unlicensed cryptocurrency sites. Players will have to research and verify licensing. Licensed operators have been authenticated by leading regulators in the industry. Caution is to be sought also that they are not fronts for illicit activities like money laundering or other activities.
Regulators and banks have placed restrictions on bank accounts for gambling. Limitations on credit card use for gambling have been restricted by banks in the UK. Gamblers can limit or block spending from their bank account for gambling purposes.
GamStop is not able to assist gamblers to self-exclude on sites not licensed with UKGC and cryptocurrency gambling sites. This limitation can be circumvented by the use of software offering self-exclusion for gamblers. Updated gambling blocker software is available through search engines. The software blocks gamblers from all gambling sites, some can be blocked from all international gambling sites.
Casino’s Internal Self-Exclusion Through Support
Commonly casinos will offer clients the option to exercise self-exclusion within their sites. These may not all be GamStop, but others like Gamban, and Gamblock to name but a few. Some will be services on offer without any charge, though others may require the gambler to subscribe to a monthly fee.
They may also offer alternatives where the player can set a limit on their gambling spend. Have a period where they can exclude for days rather than months at a time. This would prove ineffective as site self-exclusion can mean the gambler would just sign up for a different site. Defeating the purpose of taking control of gambling habits through self-exclusion.
Software That Blocks Gambling Sites
As mentioned, there are numerous software which are on offer to assist gamblers including non-UKGC operators. At times these may come at a cost or sometimes offered as a free service.
Gamban is an option available that provides software that needs to be downloaded by the player. This will allow them to exclude themselves from all gambling sites including cryptocurrency sites from gambling. This self-exclusion will remain in place for the duration of the specified period set by the player.
The same applies to Betbloker, Betfilter and Gamblock. It would be prudent for gamblers to ensure they conduct their research before signing on to gambling sites as not all sites are reliable.
To Sum Up
Regulator concern over the easy availability of cryptocurrency operators to problematic gamblers is a growing concern. Measures are continuously reviewed to ensure the safety and security of vulnerable gamblers are protected. Particularly since minors are restricted from the impact of gambling.
The restrictions placed on the use of credit cards have seen an increase in cryptocurrency operators and use as a loophole to attract clients. This has resulted in financial institutions stepping in to attempt to place regulations which would see the use of cryptocurrency transactions transformed. This could mean that the free trade and anonymity of this platform be reduced to mimic mainstream financial policies.
Until such time this becomes a realisation, gambling operators capitalise on those seen as vulnerable and in need of protection. The ability of players to self-exclude from problematic gambling habits is continuously tested. As long as players find loopholes around gambling habit restrictions, policymakers will need to work hard at curbing the resistance.
